Karachi, Bannu Woollen Mills Limited, a listed company on the Pakistan Stock Exchange (PSE), reported significant transactions by a substantial shareholder, according to a disclosure mandated under regulation 5.6.4 of PSX regulations.

The company disclosed that BiboJee Services (Pvt.) Limited, a substantial shareholder, purchased a total of 65,500 shares. Two separate transactions were executed, both on April 22, 2024. The first transaction involved the purchase of 64,000 shares at a rate of 25.00 PKR per share, while the second transaction consisted of 1,500 shares bought at 24.90 PKR per share. All shares were bought in regular market trading and were recorded through the Central Depository Company (CDC).

Additionally, Bannu Woollen Mills confirmed that these transactions would be reviewed in the upcoming board meeting. The company will address any non-compliance issues as required by the PSX regulations and ensure all necessary details are presented to the Exchange. They also confirmed that if the holding period for these transactions is under six months, profits from these trades would be subjected to a compliance measure involving the deposit of cheque equivalent to the profit with the Securities and Exchange Commission of Pakistan (SECP).